To help reduce the financial burden of implementing energy-efficient equipment and projects, Energy Trust of Oregon has increased cash incentives. With so many increased cash incentives, 2024 is a great year to make energy-efficiency improvements. Increased cash incentives are effective as of January 2, 2024.
Cash incentives are available based on the annual energy savings you achieve. Check out these opportunities for savings:
- Custom Capital Projects: Cash incentives increased to $0.45 per annual kWh or $5.00 per annual therm saved, up to 90% of project costs.
- Operations & Maintenance Improvements: The new simplified and more flexible process makes it easier to move forward with projects. Improvements can reduce energy costs up to 20%. Cash incentives were increased to $0.05 per annual kWh saved or $0.50 per annual therm saved, up to $125,000 per project. Customers still receive technical assistance from start to finish.
- Strategic Energy Management: Starting at $0.05/kwh or $0.50/therm saved, the new tiered incentive structure offers up to $0.10/kwh or $1.00/therm as achieved savings percentages increase, plus an opportunity for up to $5,000 in milestone incentives.
- Rebates: Are available for commonly installed energy-efficient agricultural and industrial equipment. All it takes is filling out an application to receive a rebate on equipment, such as variable-frequency drives for small pumps or fans, forklift batteries, welders, and more.
- Lighting Projects: Especially during these darker days early in the year, lighting can make a huge difference for employee productivity and safety, along with energy cost savings.
Limited capital can create a burden when trying to get project approval. Energy Trust developed these incentive changes to streamline the path to shorter payback periods, a real help in gaining project approval.
Industrial and agricultural businesses can expect all the same in-depth technical analysis and advice from Energy Trust, along with more flexibility in the process, larger incentive checks, and lower energy costs for years to come.
If you’re looking for more energy savings in 2024 and beyond, take advantage of increased incentives available now. Visit www.energytrust.org/programs/industry, email email@example.com or call 1.866.202.0576.